Bharti Infratel hits 2-month high; stocks zooms 79% from March low

Shares of Bharti Infratel continued their northward journey and rose 5 per cent on the BSE on Tuesday to hit a two-month high of Rs 217.50 on expectation that the company’s margins would revert to 50–52 per cent from the current quarter (Q1FY21).

The stock was trading at its highest level since March 16, 2020. It has zoomed 79 per cent in the past two months from Rs 121 on March 19, as compared to 7.8 per cent rise in the S&P BSE Sensex.

Bharti Infratel is a provider of tower and related infrastructure, and deploys, owns and manages telecom towers and communication structures for various mobile operators. The company’s consolidated portfolio consists of over 90,000 telecom towers.